The Ontario Teachers Pension Plan Board has significantly increased its investment in DTE Energy Company, raising its position by 46.5% during the second quarter of the fiscal year. This information was disclosed in the firm’s latest Form 13F filing with the Securities and Exchange Commission. As of the end of the quarter, the pension fund held 45,053 shares of the utility provider, valued at approximately $5,968,000 after acquiring an additional 14,304 shares.
Other institutional investors have also been active in their dealings with DTE Energy. For instance, Dynamic Technology Lab Private Ltd made a new investment in the company worth around $567,000 during the first quarter. Additionally, Nordea Investment Management AB increased its holdings by 5.3% in the second quarter, bringing its total share count to 208,818, valued at approximately $27,470,000.
Heavyweight investor Goldman Sachs Group Inc. raised its stake by an impressive 65.3% in the first quarter, now owning 1,612,925 shares valued at $223,019,000. Other notable changes include Focus Partners Wealth, which increased its stake by 3.6%, and Janney Montgomery Scott LLC, which boosted its holdings by 9.9%.
Analyst Ratings and Market Performance
Research analysts have provided varied ratings for DTE Energy. On October 8, Weiss Ratings reaffirmed a “buy (b-)” rating for the stock. Following that, BMO Capital Markets raised its price target from $140.00 to $144.00 with a “market perform” rating. Similarly, Morgan Stanley increased its target price from $137.00 to $145.00, assigning an “overweight” rating.
In contrast, Scotiabank lowered its price target from $147.00 to $146.00 while maintaining a “sector perform” rating. Wells Fargo & Company upgraded DTE Energy to a “strong-buy” rating in a report released on October 28.
Currently, the stock holds an average rating of “Moderate Buy” among analysts, with a consensus price target of $149.25. Of the analysts covering the stock, one has rated it as a Strong Buy, seven have issued Buy ratings, and six have given it a Hold rating.
Recent Trading Activity
As of Friday, shares of DTE Energy opened at $137.07, reflecting a 0.5% decline. The company has experienced a fifty-two week low of $116.30 and a high of $143.79. The firm’s fifty-day moving average is $138.64, while its two-hundred day moving average stands at $136.87.
DTE Energy’s financial health is indicated by a quick ratio of 0.57, a current ratio of 0.94, and a debt-to-equity ratio of 1.96. The company possesses a market capitalization of $28.47 billion, a price-to-earnings ratio of 19.72, and a P/E/G ratio of 2.97.
In its latest earnings report released on October 30, 2023, DTE Energy reported earnings per share of $2.25, surpassing the consensus estimate of $2.10 by $0.15. The company’s revenue for the quarter was $3.53 billion, exceeding analyst expectations of $3.23 billion. Last year, the same period recorded earnings of $2.22 per share.
Looking ahead, DTE Energy has provided guidance for fiscal year 2025, estimating earnings per share between $7.090 and $7.230, and for fiscal year 2026, between $7.590 and $7.730. Analysts predict the company will post earnings of $7.18 per share for the current year.
DTE Energy Company operates utility services, generating, purchasing, distributing, and selling electricity to residential, commercial, and industrial customers primarily in southeastern Michigan. The company utilizes a mix of energy sources, including coal-fired plants, hydroelectric pumped storage, nuclear plants, and renewable energy assets such as wind and solar.
